17 Feb 2016 17:32
New World Oil and Gas Plc / Index: AIM / Epic: NEW / Sector: Oil & Gas
For immediate release 17 February 2016
New World Oil and Gas Plc ('New World' or the 'Company')
Issue of Equity
Directors' Dealings
Total Voting Rights
New World Oil and Gas Plc, the oil and gas exploration and development company, today announces the issue of a total of 155,189,367 new ordinary shares in the Company, representing 3.38% of the existing issued share capital.
82,764,767 new ordinary shares in the Company, at an average price of 0.275p per share, are being issued in part payment for services rendered in relation to the Company's operations. There are currently no other outstanding fees with suppliers.
In addition, and as part of their directors' fees accrued since Q2 2013 and under existing arrangements, a total of 72,424,600 ordinary shares are being issued to the following Directors and former Director at an average of 0.23p per share as set out in the table below. There are no further shares being accrued by Directors.
Director | Number of new ordinary shares issued | Subsequent total holding | Percentage of ordinary shares following issue of new ordinary shares |
Chris Einchcomb | 24,700,672 | 26,864,190 | 0.57 |
Stephen Polakoff | 20,305,341 | 21,959,988 | 0.46 |
Former Director | Number of new ordinary shares issued | Subsequent total holding | Percentage of ordinary shares following issue of new ordinary shares |
Frederick Hodder | 27,418,587 | 29,296,503 | 0.62 |
Application has been made for a total of 155,189,367 new ordinary shares, which will rank pari passu with all existing ordinary shares in the Company, to be admitted to trading on AIM ("Admission"). Admission is expected to take place on or around 22 February 2016.
The Company has no ordinary shares held in treasury and as a result, the total number of voting rights in the Company will be 4,746,786,108. This figure may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
* *ENDS* *
For further information please visit www.nwoilgas.com or contact:
Enquiries: | ||
Georges Sztyk
| New World Oil and Gas plc | Tel: +1 646 407 9946 |
Felicity Geidt | Beaumont Cornish Limited | Tel: +44 (0) 20 7628 3396 |
Roland Cornish | Beaumont Cornish Limited | Tel: +44 (0) 20 7628 3396 |
Lottie Brocklehurst | St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |
Frank Buhagiar | St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177
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